The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
A Belgian F-16 fighter jet crashed on a road in western France and one of its pilots is hanging from a high-voltage electricity line after his parachute got caught.Aerospace & Defenseread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
A key worry for some is whether libra competes with sovereign currencies like the dollar.Technologyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
The U.K. has fallen out of favor as an emigration destination for China's wealthy, according to a new report which pips Canada in front.
The U.S. remains the preferred destination for Chinese millionaires considering a move overseas, but for the first time Britain has fallen behind Canada, the 2017 study by China's Hurun Research and Visa Consulting Group has found.
The report gave no reason for the U.K.'s demise, but a weaker sterling appears to have done little to entice China's wealthy to relocate to the Britain while it transitions through Brexit negotiations and continues to tighten the tax landscape for overseas investors.
Concerns over the falling value of the Chinese yuan are, however, a driving factor in Chinese millionaires' decision to relocate, the report suggests.
More than four-fifths (84 percent) of recent or would-be wealthy Chinese immigrants now say the devaluation of the yuan is their key motivation for relocating away from China – up 50 percent from last year and well ahead of concerns over pollution and healthcare.
The Chinese yuan has seen a gradual devaluation over recent years, prompting accusations of currency manipulation from President Donald Trump.
A total of 46.5 percent of China's rich say they plan to emigrate overseas. Aside from the U.S., Canada, and the U.K. – now in third place – Australia, Portugal and Spain ranked among the top ten most popular destinations for Chinese millionaires looking to safeguard their savings and benefit from better education and healthcare.
For the first time this year, Malta, Antigua and Dominica, with their attractive investor visa programs, also appeared on the list.
The high levels of emigration mark something of a blow to the Chinese economy, which is currently undergoing a major reform program as it seeks to transition from a production-led economy to a service-led economy.
Rupert Hoogewerf, chairman and chief researcher of the annual Hurun Report, said that the figures had fallen from a once stubborn 60 percent, but insisted that more structural reforms in education and the environment were needed to retain the country's wealthy.
"Education and pollution are driving China's rich to emigrate. If China can solve these issues, then the primary incentive to emigrate will have been taken away."
On Monday, China reported second-quarter gross domestic product growth of 6.9 percent, topping analyst expectations.